Dow is up over 525

[HereSince1628]

We'll see if it evaporates toward the close

[DangerDave921]

1. Yay!!

I need some good news. :)

[scheming daemons]

3. BOO! Wait until next week for this kind of rally..... it can only help McCain this week

[DangerDave921]

7. Well I can't control it!

I can't make the market go up or down. But I'm sure not going to be sad when it goes up. That's my family's money we're talking about.

[scheming daemons]

10. If it waits a week to go up, it's not going to hurt you.. All that matters is where it is at when

you sell.

[TahitiNut]

6. Why is that good news?

If the price of a car went up 5% in one day, would that be good news? If the underlying business is laying off employees, is the increased market price of the stock "good"?? If the market price of all homes increased by 5% in a single day, would that be good news?

As far as I can see, the only rationale for saying it's "good news" is that folks who own it can sell it. But the problem then becomes one of what THAT buyer will expect.

Virtually NONE of the money used to purchase stock actually finds its way into the underlying business to pay employee wages or purchase plant, property, or equipment. So HOW is it "good" that prices go up? At least ine case of a car or house there's some better chance that the folks who built it might get paid more.

[DangerDave921]

9. it is good

because as the value of the stocks I own goes up, my portfolio becomes worth more. I didn't think that needed explaining. I want my IRA's and college funds to increase in value. Sorry to be selfish, but that's what I want.

[TahitiNut]

13. Enjoy the crumbs from Master Ponzi's table.

:shrug:

The problem with things that 'don't need explaining' is that so few folks understand the systemic problems. It's not what people DON'T know that's as much of a problem as what they THINK they know that's just plain wrong.

[Name removed]

14. Deleted sub-thread

Sub-thread removed by moderator. Click here to review the message board rules.

[Oregone]

2. Of course its up. The economic numbers were wonderful today.

What?!? This isn't golf? Consumer sentiment at lowest level ever recorded?

[enid602]

4. Oh happy day

And the dollar´s down vs the Euro? Could it be possible that the deleveraging process is near to being over? That would be nice.

[JuniperLea]

5. That is too stark a climb to last...

Once the market reaches it's support level, trading will be slow and cautious for a while. This volitility is expected up until that support level is reached.

[HereSince1628]

8. Many P/E's getting down below 9 seem to be making things look attractive

Of course as time coughs up more and more downward earnings guidance going into the new year this may all come apart.

[JuniperLea]

18. A lot of 3Q earnings are just now coming out...

I have this feeling that day traders are having their way with this market right now.

[Bigmack]

11. Before we get all excited....

read Krugman....

I hate to be a wet blanket, but the big ups and downs on the market are just volatility without any basis in reality.

http://seattlepi.nwsource.com/opinion/385203_krugman28.html

..."he gyre continues to widen in new and scary ways. Even as Paulson and his counterparts in other countries moved to rescue the banks, fresh disasters mounted on other fronts.
Now the emerging markets are in big trouble. In fact, says Stephen Jen, the chief currency economist at Morgan Stanley, the "hard landing" in emerging markets may become the "second epicenter" of the global crisis. (U.S. financial markets were the first.)
What's happening, I suspect, is that the Bush administration's anti-government ideology still stands in the way of effective action. Events have forced Paulson into a partial nationalization of the financial system -- but he refuses to use the power that comes with ownership.

Whatever the reasons for the continuing weakness of policy, the situation is manifestly not coming under control. Things continue to fall apart."

[HereSince1628]

12. It's not about getting all excited about a recovery...it's about amazing volatility

in the day to day trading.

We've never seen price swings in this sort of real dollar amounts. True they aren't record percentage changes, and it is true that roller-coasters ultimately run-down hill.

But, just, Day-um! This is something to see!

[Bigmack]

15. Like a train wreck.... nt

[HereSince1628]

16. Or the wild oscillations of a car on ice. She's up over 700 a few seconds ago

Hokey smokes! I can remember when the market total value was in the 600 point range.

[darkism]

17. it's OVER 9000!

Sorry; couldn't resist. :)